Prime Leased Investment
664-668 N Palm Canyon Palm Springs, CA 92262
For Sale
Contact for pricing
Fully leased commercial property in Palm Springs' historic Uptown District.
Property Size11,387 SF
Price / SF$385.97
Days on Market180
Property Features for 664-668 N Palm Canyon
General Information
- Standard status
- Active
- Size
- 11,387 SF
- Property subtype
- Hospitality, Office, Retail
Building Details
- Year Built
- 1960
Listing Agency:
Realty Trust
Listed By:
Scott Timberlake · License #01257645
Source:
Crexi
Added: Jan 27
Changed: Jul 10
Last Checked: Jul 26 at 6:46AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Realty Trust
Investment Insights
Based on property information with market context.
This impeccably maintained commercial property is located in the heart of Palm Springs' historic Uptown District, offering exceptional visibility and charm. The property features dual architecture, with both Mid-Century Modern and Spanish styles, situated on a single tax lot with two distinct addresses. The offering includes two buildings: a Mid-Century Modern commercial space suitable for retail, office, or mixed-use purposes, and a Spanish-style property that houses Jake's Restaurant. Jake's Restaurant expanded its operation in 2024 with a new fully renovated lobby, additional indoor seating, kitchen and restrooms. Off-street parking is available exclusively for tenants. The 668 building features two common area restrooms on the second floor, while the ground-floor retail units each have private restrooms. A fully paid solar system on the 668 building enhances sustainability and reduces operational costs. The property is currently under application for the Mills Act for a potentially significant property tax reduction. The property is 100% leased. The seller is open to an exchange for an out-of-state commercial property, hotel, or residential income property, with a preference for Oregon.
Key Highlights
- 100% Leased Investment Property in Palm Springs' Historic Uptown District
- Home to the renowned Jake's Restaurant with high foot traffic
- Dual Architecture (Mid‑Century Modern and Spanish) on a Single Tax Lot
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $261.0k | $22.92 |
| − Vacancy | −$22.4k | −$1.97 |
| EGI | $238.5k | $20.95 |
| − OpEx | −$59.6k | −$5.24 |
| NOI | $178.9k | $15.71 |
11,387 SF · lease $22.92/SF/yr · vacancy 8.60% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.56M
$2.24M – $2.98M
NOI $178,909 @ 7.0% cap · market cap 4.07%
Second Best
Retail
$2.33M
$2.04M – $2.72M
NOI $163,219 @ 7.0% cap · market cap 3.71%
Theoretical Best
Office A
$3.41M
$2.98M – $3.98M
NOI $238,795 @ 7.0% cap · market cap 5.43%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Storefront properties
Similar Off Market Nearby
- hermano flower shop — 383 N Indian Canyon Dr, Palm Springs, CA 92262
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- Prism Floral Design — Prism Floral Design, Palm Springs, CA 92262
FAQs
What type of property is this?
Storefront property - Fully leased commercial property in Palm Springs' historic Uptown District.
Where is this storefront property located?
The property is located at 664-668 N Palm Canyon Palm Springs, CA.
What is the asking price?
The asking price for this property is $4,395,000.
What are key features of this property?
This property features: 100% Leased Investment Property in Palm Springs' Historic Uptown District; Home to the renowned Jake's Restaurant with high foot traffic; Dual Architecture (Mid‑Century Modern and Spanish) on a Single Tax Lot
